Infrared Sensors Market - Forecast(2021 - 2026)
The global infrared market in 2017 is $391.6M in 2017 and is estimated to grow at a CAGR 15.1% during the forecast period 2018-2023. The photo diode market holds the largest market share and generated highest revenue of 98.4M and is estimated to grow at CAGR of 10%. Increasing demand for home automation products, growth of process automation industry and the increasing usage in wireless communication are the key growth factors for IR sensors. What is infrared sensor? An infrared sensor is an electronic instrument which is used to sense certain characteristics of its surroundings by either emitting and/or detecting infrared radiation. Infrared sensors are also capable of measuring the heat being emitted by an object and detecting motion. Infrared sensors are components which can detect and produce light in the IR wavelength range. IR sensors have IR light source, medium, optical components and the IR detector. The medium can be a vacuum in case of thermal imaging systems or can